You're navigating your brand's presence on a new social media platform. How do you determine its ROI?

When I first ventured into a new social media platform for my brand, the challenge was understanding its ROI. I remember feeling overwhelmed by the sheer amount of data and metrics available. To start, I focused on the basics: I defined what success meant for us—whether it was increased engagement, higher lead generation, or more sales.

When it comes to social, ROI can be a tricky measurement. Often leadership can demand that ROI is only measured in terms of sales (who doesn't want more sales?), and it's important to find ways to communicate how brand awareness and driving traffic can be effective ways at generating sales even if it's not immediately obvious. KPI's are important to make sure that you know you're on the right track, but don't forget that you need to translate your metrics into ones that the company overall can understand.

To make the brand presence strong and reachable to the audience, there are several elements that need to be considered, based on those elements one can be able to determine the ROI. To start with, goals need to be set clear, spend for ads, content, tools need to be defined and forecast to be done on the benefits such as revenue, leads, traffic and customer satisfaction. One can use analytics platforms and CRM tools to gather these data. ROI Basic calculation - (Total returns - total cost) /total cost * 100

El ROI (Retorno de la Inversión) en redes sociales mide el beneficio obtenido en comparación con el costo de las estrategias y campa?as en estas plataformas. Es fundametal para EVALUAR LA EFECTIVIDAD DE LAS INVERSIONES. Beneficios: -Optimización de estrategias: Permite ajustar y mejorar las campa?as según los resultados obtenidos. -Justificación del presupuesto: Ayuda a demostrar el valor de las inversiones en redes sociales a los stakeholders. -Mejora del engagement: qué contenido y canales generan más interacción y ventas. Medición: -Ingresos generados: Calcula las ventas atribuidas a las campa?as en redes sociales. -Costos: Incluye gastos en publicidad, producción de contenido y herramientas. Fórmula: (Ingresos - Costos) / Costos x 100.

Measuring ROI in social media can be challenging. Leadership often expects ROI to be measured solely in terms of sales (after all, who doesn't want more sales?), but it's crucial to convey that brand awareness and driving traffic are also effective methods for generating sales, even if the results aren't immediately apparent. KPIs are essential to ensure you're on the right path, but it's equally important to translate your metrics into terms that are meaningful to the entire company. This way, everyone can understand the impact of your social media efforts.

Not all metrics are the same. Different data can mean different things. For example, high effort actions like 'sharing' and 'saving' should be given more weight than low effort actions, such as 'liking'. The more high effort actions a user takes when interacting with your content, the more likely the social media platform is to push that content out to more people. Understanding these metrics can help you make informed decisions and gain key insights as to where your users are in the decision making process. If you're not seeing many 'likes' but are seeing lots of 'saves' it might mean that people find the content valuable and want to refer to it later, but don't feel like it's necessary to 'like' the post.

Identify the key performance indicators (KPIs) that align with your business goals. These metrics will help you track the effectiveness of your campaigns. → Engagement Metrics: Likes, comments, shares, and followers. → Traffic Metrics: Click-through rates (CTR), website visits, and session duration. → Conversion Metrics: Leads generated, sales, and sign-ups.

Para medir el RESULTADO de las campa?as, utilizamos diversas herramientas que proporcionan métricas clave. Estas son: -Google Analytics: Analiza el tráfico web, conversiones, fuentes de tráfico y comportamiento de los usuarios. -Hootsuite: Gestionan y analizan el rendimiento en redes sociales, incluyendo métricas de engagement, alcance y seguidores. -Google Ads: Monitorea el rendimiento incluyendo CPC, CTR y ROI. -Mailchimp: Analiza el éxito de campa?as de email marketing. -Hotjar: Proporciona mapas de calor y grabaciones de sesiones para entender el comportamiento del usuario en el sitio web. -HubSpot: Ofrece análisis completos de marketing, ventas y servicio al cliente, integrando datos de varias fuentes. LA REVISIóN PERMANENTE ES VITAL

Its very important to understand what metrics are important for your business, which leads directly affects the sales or your end goal from the channel.

Track Key Performance Indicators (KPIs): Engagement Metrics: Measure likes, comments, shares, and other interactions to gauge audience engagement. Follower Growth: Track the growth in your follower base over time. Reach and Impressions: Monitor how many people see your content. Website Traffic: Use analytics tools to track how much traffic is being driven to your website from the new platform. Conversion Rates: Measure how many followers or engagements convert into leads or sales.

Doing a CBA (Cost Benefit Analysis) once a quarter can be helpful in calculating costs. Make sure that you're taking into account how many resources you're spending on a campaign, and consider those numbers against the results you've been getting. Keep in mind social media strategy can take a few weeks or months to really kick in, so it's important to give your campaigns time to learn the right audience and to gain traction.

Accurately calculate all the costs associated with your social media efforts on the new platform. → Direct Costs: Ad spend, influencer payments, content creation expenses. → Indirect Costs: Employee salaries, software tools, and overhead costs.

Para determinar con precisión el ROI, es importante considerar TODDOS LOS COSTES: -Publicidad: anuncios pagados en plataformas como Facebook, Instagram, Twitter y LinkedIn. -Producción de contenido: Gastos relacionados con la creación de contenido, como dise?o gráfico, fotografía, video y redacción de textos. -Herramientas y software: suscripciones a herramientas de gestión de redes sociales, análisis de datos, programación de publicaciones y monitoreo. -Salarios y honorarios -Formación y desarrollo. -Promociones y concursos: Costes asociados a la realización de sorteos, descuentos y otras promociones para aumentar el engagement y la visibilidad. -Investigación de mercado: Gastos en estudios de mercado y análisis de la competencia.

To determine the ROI of a brand's presence on a new social media platform, calculate the cost of: 1. Content creation 2. Advertising spend 3. Time and resources spent on engagement and management Then, measure the returns by tracking: 1. Engagement metrics (likes, shares, comments) 2. Follower growth rate 3. Website traffic and online sales generated from the platform 4. Brand awareness and sentiment analysis Compare the costs to the returns to calculate the ROI and adjust the strategy accordingly.

Calculate Costs: Determine the costs associated with your presence on the platform, including advertising spend, content creation costs, and any additional resources allocated.

Evaluating the value generated from your social media activities is a critical component of calculating ROI. You'll need to assign a monetary value to the outcomes based on your KPIs. For instance, if lead generation is a goal, determine how much each lead is worth to your business. If brand awareness is the objective, consider how much you would typically pay for the equivalent exposure through other marketing channels. This will help you translate social metrics into tangible business value.

Evaluating the value generated from social media can be tricky work, so this is a great time to invite members of the organization you're working for into a collaborative environment. Have meetings with different departments to determine what the value of a lead really is. What's the typical conversion rate like? How much profit does a sale generate? How much is the organization willing to pay for a lead and does that number fluctuate seasonally? Does it change depending on a specific campaign? Many companies have a range of what's an acceptable cost for a lead. Understanding this number can give you the independence to make decisions on when to change tactics if a campaign isn't working.

Evaluate the tangible and intangible benefits your brand gains from the new platform. → Tangible Benefits: Increased sales, lead generation, improved conversion rates. → Intangible Benefits: Brand awareness, customer loyalty, and engagement.

To measure ROI, give a monetary value to your social media outcomes. For example, if generating leads is a goal, figure out how much each lead is worth to your business. If brand awareness is key, consider what you'd pay for that reach through ads. This helps turn social metrics into real value. For instance, if each lead is worth ?100 and you get 50 leads, that’s 5k in value.

Evaluate the value generated by the platform. This includes direct revenue from sales, lead generation, brand awareness, and customer engagement. Compare these benefits against your costs.

If it works, it works. Social can change in the blink of an eye, and if something is working, I recommend putting more resources behind it to get a wider reach. It can be tempting to further optimize a successful campaign, but this can result in the campaign losing steam. When things aren't working, it's important to study the data to see what isn't working. Is it low engagement? Are people bouncing from the website? What part of the user journey isn't supported well? It could be a matter of changing up the creative, or clarifying what your offer is and making it a frictionless process for your target audience to find your products and services.

Based on your findings, refine your strategy to maximize ROI. Use data-driven insights to tweak your campaigns and focus on high-performing content. → A/B Testing: Experiment with different content formats, posting times, and ad creatives to see what works best. → Audience Segmentation: Tailor your content and ads to specific audience segments for more personalized engagement.

Para ajustar tu estrategia de redes sociales según el ROI obtenido, sigue estos pasos: -Identifica áreas de éxito: Analiza qué campa?as, plataformas o contenidos generaron un ROI positivo. Refuerza estos enfoques invirtiendo más recursos en ellos. -Optimiza el presupuesto: Redirige el presupuesto desde áreas de bajo rendimiento a estrategias con mayor ROI. -Mejora el contenido: Si ciertas publicaciones o formatos tienen mejor rendimiento, crea más contenido similar. -Prueba nuevas tácticas: plataformas, formatos de anuncios o técnicas de segmentación. -Monitorea y ajusta: Realiza un seguimiento continuo del ROI y ajusta tus estrategias en tiempo real. -Capacitación y actualización: Invierte en la formación continua del equipo.

Qualitative Assessment: Consider qualitative factors such as brand sentiment, customer feedback, and overall brand perception influenced by your presence on the platform.

Evaluate the sentiment of the interactions (positive, negative, or neutral) to understand how the audience perceives your brand. Review feedback and comments to gauge the quality of engagement and address any concerns. Compare your performance on the new platform with competitors or industry standards to gauge relative success. Analyze competitors’ engagement, reach, and strategies on the platform to identify best practices and areas for improvement. Regularly review analytics and performance data to assess whether your objectives are being met. Make data-driven adjustments to your strategy based on performance insights to optimize ROI.

Social Media Marketing is a long-term game, and you'll want to divide your success journey into milestones: - Establish baseline metrics for a specific period on a concrete platform. - Adjust these metrics and tactics based on your growth dynamics. - Don't forget to monitor competitors' developments and successful accounts from other industries. - Always test and learn. Regularly prepare a short "Learnings & Next Steps" report to implement findings. Last but not least, avoid posting for the sake of posting. If there's no growth in key metrics, the strategy should be adjusted.

Continuous Optimization: Use insights gained from your ROI analysis to optimize your strategy on the new platform. Adjust tactics, content types, posting schedules, and advertising strategies based on what drives the best results.

Content recycling is a theme that is rarely discussed. If you’ve followed someone like Justin Welsh on LinkedIn, you’ll see that he has an incredible process using a Notion.so database to recycle the same themes, sometimes from slightly different perspectives. A big lesson I've learned after more than three years is to recycle topics that are interesting, even if it feels silly to you. Only about 20% of your network sees your posts anyway, let alone remembers the topic the next day.